DAX 30 September just missed the 15700/710 target, then broke best support at 15610/590 to bottom exactly at the next target of 15490/470
Euro Stoxx 50 September we wrote: held strong resistance at 4080/90 targeting 4060/50. Holding below here targets 4020, perhaps as far as 4000/3990. We went straight to the 4000 target and held just 3 ticks above.
FTSE 100 September reversed 8 ticks from first resistance at 7000/7020 and broke minor support at 6935/25.
Analysis
DAX collapsed to the next target of 15490/470 on Sunday. Further losses risk a retest of the June and July low at 15290/255. Longs need stops below the 100 day moving average at 15200. A break below here is a medium term sell signal.
First resistance at 15610/630. A break higher can target 15700/710 before strong resistance at the June high at 15800/80. Shorts need stops above 15830. Obviously a break above here is a medium term buy signal initially targeting 16000/16100.
Euro Stoxx September held 3 ticks above the next target of 4000/3990. On further losses look for a retest of the July low at 3940/35. A break below 3930 is a sell signal targeting 3910 and 3885/80. Gains are likely to be limited with strong resistance at 4055/65 and again at 4080/90. Stop above 4100. A break higher is a buy signal targeting 4120/25 and 4145/50.
FTSE September best support is at 6910/00. Longs need stops below 6890. A break below here is a medium term sell signal targeting 6875/70 then 6810/00. Bulls need a move above 6930 to test strong resistance at 7010/7025. Shorts need stops above 7050.
Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.